When a firm tries to differentiate its products, it often applies a concept known as ______.
A) positioning
B) the marketing mix
C) personal selling
D) product valuation

Question

Quizplus · Accepted Answer

Positioning is a marketing strategy aimed at creating a unique image and identity of a product or brand in the minds of the target customers. It involves differentiating the product from competitors by highlighting unique features, benefits, or value propositions. By positioning the product uniquely, the firm aims to attract and retain customers by providing a compelling reason to choose its product over others. Therefore, differentiation is a crucial aspect of positioning, and firms often apply it to create a competitive advantage in the marketplace.

When a Firm Tries to Differentiate Its Products, It Often